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Updated September 18, 2026. Quick answer: $10,000 for Model Wealth Portfolios (MWP). LPL Financial’s own Form ADV Part 2A brochure states this figure directly, though the firm reserves some discretion to adjust it. At that minimum, LPL Financial’s own published fee schedule works out to $295 a year.
The minimum, in the firm’s own words
“MWP: The minimum account value varies depending on the model portfolio(s) selected and the account’s allocation amongst model portfolios. The lowest minimum for a model portfolio is $10,000.”
On waivability: “Minimum investment requirements vary by Program and are set forth in the applicable Client Agreement. LPL may, at its discretion, waive any minimum for any Program.”
Minimum investment and what it would cost
| Program | Minimum investment | Annual fee at that minimum | Waivable? |
|---|---|---|---|
| Model Wealth Portfolios (MWP) | $10,000 | $295 | Partially, at the firm’s discretion |
| Source: LPL Financial LLC Program Brochure, Form ADV Part 2A, Item 5 (“Fee Maximums”), July 1, 2026 | |||
Applies MWP’s disclosed 2.95% flat ceiling (2.35% Advisory Fee + 0.60% Manager Fee) to the $10,000 lowest-model minimum.
LPL Financial’s own fee schedule at other balances
| Account balance | Annual fee |
|---|---|
| $250,000 | $7,375 |
| $500,000 | $14,750 |
| $1,000,000 | $29,500 |
| $2,000,000 | $59,000 |
What a larger account would cost
The minimum is only the entry point. On a $500,000 account, LPL Financial’s own published fee schedule runs up to $14,750 a year (the sum of the firm’s published maximum fee components); see the full dollar breakdown from LPL Financial’s own fee disclosure across several account sizes.
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- LPL Financial LLC Program Brochure, Form ADV Part 2A, Item 5 (“Fee Maximums”) (July 1, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1050527
- SEC Investment Adviser Public Disclosure, LPL Financial LLC (CRD #6413): https://adviserinfo.sec.gov/firm/summary/6413
- LPL Financial LLC, SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/6413/PDF/6413.pdf
Methodology. This page was built September 18, 2026, quoting directly from LPL Financial’s own current Form ADV Part 2A / wrap-fee brochure, with the source linked above. The annual-fee-at-the-minimum figure applies that same brochure’s own published fee schedule to the disclosed minimum dollar amount; any distinction we could not independently confirm this session is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading the firm’s own Form ADV Part 2A. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
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How much do you need to open an account? Compare the minimum investment at 128 advisory firms, each taken from the firm’s own Form ADV Part 2A brochure.
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